Delta acquires Virgin stake

Industries

Tuesday, December 11, 2012

Delta has acquired a 49-percent stake in Virgin Atlantic Airways for $360 million, forming a joint venture focused on North America-U.K. routings. Specifically, Delta is purchasing the stake previously held by Singapore Airlines, and Virgin Atlantic is expected to continue operating under its own brand. Officials hope the U.S. Department of Transportation and European Commission will approve the deal by early 2013. "Our new partnership with Virgin Atlantic will streng...

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